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The cyclopentane market is projected to register a CAGR of 6.7% from 2018 to 2023

The market size of cyclopentane is estimated to be USD 242.4 million in 2018 and is projected to reach USD 335.7 million by 2023, at a CAGR of 6.7%. Reduction in the use of fluorinated blowing agent & refrigerant plays an important role in driving the market.

Blowing agent & refrigerant is expected to register the fastest growth during the forecast period

Cyclopentane as a blowing agent is one of the cost-effective solutions after the phase-out of HCFC- 141b. Cyclopentane offers the highest initial R-value, good peel adhesion, and good solubility/compatibility with existing raw materials. Many foam manufacturers have chosen cyclopentane to replace HCFC-141b for reduced cost and low ODP and GWP. This is expected to drive its demand as a blowing agent & refrigerant during the forecast period.

Residential refrigerants was the largest application of cyclopentane in 2017

Residential refrigerants are the largest consumer of cyclopentane, as it is widely used as a blowing agent & refrigerant in this application. The planned phase-out of fluorinated blowing agents is promoting the use of cyclopentane for this application.

The cyclopentane market in APAC is projected to be the largest during the forecast period

APAC was the fastest-growing market for cyclopentane in 2017. The countries in APAC included in this study are China, Japan, India, South Korea, and others. The demand for cyclopentane in the region is expected to increase owing to extensive use in the refrigerants and insulating construction materials applications. This demand is highly dependent on the economic growth of the region. The rapid economic development is facilitating the growth of the building & construction industry in APAC, which is further propelling the demand for cyclopentane in the region.

Breakdown of profiles of primary interviews for the cyclopentane market report

The report covers the cyclopentane market across different applications and regions. It aims at estimating the market size and future growth potential of the cyclopentane market across different segments. The report also includes an in-depth competitive analysis of the key market players along with their profiles, recent developments, and key growth strategies.

Key benefits of buying the report

From an insight perspective, this research report focuses on various levels of analyses, which include industry analysis (industry trends) and company profiles. These insights together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments, high-growth regions, and drivers, restraints, opportunities, and challenges of the cyclopentane market.

The report provides insights on the following pointers:

- Market Penetration: Comprehensive information on cyclopentane offered by the top players in the market.

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［プレスリリース原文］

Cyclopentane Market worth $335.7 million by 2023

October 19, 2018

The report "Cyclopentane Market by Function (Blowing Agent & Refrigerant, Solvent & Reagent), Application(Residential Refrigerator, Commercial Refrigerator, Insulated containers and sippers, and others), and Region - Global Forecasts to 2023", The cyclopentane market is projected to grow from USD 242.4 million in 2018 to reach USD 335.7 million by 2023, at a CAGR of 6.7%. The growth of the market can be attributed to the use of cyclopentane as a blowing agent & refrigerant. The major drivers for the market include the phase-out of HCFCs by 85% by the late 2040s.

Among function, the blowing agent & refrigerant market had the largest market share in 2017

On the basis of function, the cyclopentane market has been segmented into blowing agent & refrigerant, solvent & reagent, and others. The blowing agent & refrigerant segment accounted for the largest share of the cyclopentane market in 2017 and is projected to register the highest CAGR during the forecast period. The demand for cyclopentane is expected to increase, during the forecast period, owing to the planned phase-out of cyclopentane by 85% by the late 2040s.

The residential refrigerators segment is projected to register the highest CAGR between 2018 and 2023

The residential refrigerators segment is projected to record the highest CAGR in the cyclopentane market during the forecast period. In the residential refrigerators application, the use of existing blowing agents is expected to phase-out by 2030s, as they have high ODP and GWP. This factor has promoted the use of eco-friendly blowing agent & refrigerants, subsequently driving the demand for cyclopentane.

APAC was the largest market for cyclopentane in 2017

The growth of the cyclopentane market in APAC is attributed to the increasing demand from the residential refrigerators and construction applications, where cyclopentane is used as a blowing agent and refrigerant. The low-cost and easy availability of raw materials, skilled labor, land, and equipment have helped APAC emerge as a key destination for appliances manufacturers, which, in turn, is increasing the use of cyclopentane.